Aliphatic Hydrocarbon Solvents & Thinners Market worth $4.3 billion by 2025 - Exclusive Report by MarketsandMarkets

CHICAGO, Oct. 29, 2020 /PRNewswire/ -- According to the new market research report "Aliphatic Hydrocarbon Solvents & Thinners Market by Type (Varnish Makers'& Painters' Naphtha, Mineral Spirits, Hexane, Heptane, Paraffinic Solvent, Pentane, and Solvent 140), Application, Region - Global Forecast to 2025", published by MarketsandMarkets, the market is projected to grow from USD 3.4 billion in 2020 to USD 4.3 billion by 2025, at a CAGR of 4.5% from 2020 to 2025.

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Increased demand for paints & coatings, which require aliphatic hydrocarbon solvents & thinners, from various end-use industries, such as decorative, automotive, and industrial, is one of the key factors driving the growth of the aliphatic hydrocarbon solvents & thinners market across the globe.

The paints & coatings segment is projected to lead the aliphatic hydrocarbon solvents & thinners market in terms of both value and volume during the forecast period

Based on application, the paints & coatings segment of the aliphatic hydrocarbon solvents & thinners market is projected to grow at the highest CAGR from 2020 to 2025 in terms of both, value, and volume. Aliphatic hydrocarbon solvents & thinners are primarily used in the production of paints & coatings because the mix of solvents used in this industry are continually changing, and these satisfy increasing demands for enhanced performance. Increased demand for paints & coatings from various end-use industries, such as decorative, automotive, industrial, and protective paints & coatings, is driving the growth of the paints & coatings segment of the aliphatic hydrocarbon solvents & thinners market worldwide.

The varnish makers' & painters' naphtha segment is projected to lead the aliphatic hydrocarbon solvents & thinners market in terms of both value and volume from 2020 to 2025

Based on type, the varnish makers' & painters' naphtha segment of the aliphatic hydrocarbon solvents & thinners market is projected to grow at a higher CAGR than all other segments during the forecast period in terms of both value and volume. Varnish makers' & painters' naphtha has a high number of applications wherein it can be used. It is used as a thinner for paints & coatings, as a solvent in hydrocarbon cracking, in laundry soaps, organic chemistry, cleaning fluids, and various other applications. It is also used to make varnish and to fuel camping cook stoves and lamps as well as to process fuels, such as gasoline and kerosene. A majority of the manufacturers across the globe produce aliphatic hydrocarbon solvents & thinners, which is a type of varnish makers' & painters' naphtha.